The Editorial Team |

Nigeria’s economic recovery plan has modest oil & gas ambitions but needs clarity, Says Ecobank

LAGOS (Capital Markets in Africa) – The government of Nigeria rolled out its Economic Recovery and Growth Plan yesterday. The plan, which is expected to enable the country borrow funds from both the World Bank and African Development Bank, is targeted at quickly pushing the country out of recession back into a stable growth path between 2017 and 2020. A cardinal aspect of the plan is fixing the oil and gas sector to enable output…

South Africans Struggling to Meet Debt Repayments as Rules Change

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In June 2016, close to75% of the average South African’s annual income was spent on debt repayment. As one of the world’s heaviest credit users – and with an economy in turmoil – it’s little wonder than many South African’s struggles to keep up with loan repayments, making the country home to the world’s most consumer debt in 2015. Times are as uncertain as ever for South Africa’s many millions of borrowers. While some take…

Egypt’s pound shows Nigeria must overcome its fear of floating free

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CAIRO (Capital Markets in Africa) – A currency devaluation may do little to fix Nigeria’s problems unless it follows the examples of emerging market peers Egypt, Argentina and Russia and embraces floating exchange rates. Grappling with the recession, widespread dollar shortages, a budget funding gap and international lenders’ reluctance to provide loans, Nigeria has moved tentatively to devalue its currency. The naira traded as low as 375 per dollar on Monday versus the official rate of…

FinTech Impact for Africa: Re-Imagining Financial Services

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7th March 2017, Uganda: FinTech players are increasingly becoming an important part of the fabric of Africa’s financial services industry. In addition, the leading banks on the continent are now harnessing innovative technology to meet market needs and are also collaborating with FinTech start-ups to help them connect with under-served consumers, improve financial inclusion and provide a platform to scale much faster. Combining a highly innovative and interactive event format with world‐class speakers and more…

Tanzania central bank slashes its discount rate to 12 pct

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DAR ES SALAAM (Capital Markets in Africa) – Tanzania’s central bank cut its discount rate to 12 percent from 16 percent to help spur lending and boost economic growth, the first time it has lowered borrowing costs since 2013. The cut, which the central bank said in a circular to commercial banks seen by Reuters becomes effective on Monday, follows a steep drop in private sector credit growth last year. “The discount rate which is applicable…

Mediterrania Capital Partners raises €250 million for third fund

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Malta/Barcelona (7 March 2017) – Mediterrania Capital Partners, the regional Private Equity firm focusing on growth investments for companies in North African and Sub-Saharan countries, announces its plans to raise €250 million for its third fund, Mediterrania Capital III (MC III). Through MC III, Mediterrania Capital will maintain its focus in North Africa while expanding into selected Sub-Saharan countries such as Ivory Coast, Senegal and Cameroon. The firm is planning to continue investing in strong…

Algeria foreign reserves to stay over $100 bln this year

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ALGIERS (Capital Markets in Africa) – Algeria’s foreign exchange reserves will come to at least $100 billion by the end of 2017 thanks to measures aimed at further reducing the country’s import bill, Prime Minister Abdelmalek Sellal said on Monday. The fall in global oil prices has hammered the state finances in OPEC member Algeria, where oil and gas account for 94 percent of total exports and 60 percent of the state budget. Energy earnings…

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